India's VA Tech Wabag up; Motilal Oswal starts coverage with 'buy'

VA TECH WABAG

22/07/2025 06:39

** Water management co VA Tech Wabag VATE.NS rises 2% to 1,548 rupees

** Motilal Oswal starts with "buy"; sets PT at 1,904 rupees, ~25% upside to last close

** Says large order wins or margin boost could trigger valuation re-rating in the near- to medium-term

** Notes co's 137 bln-rupee ($1.6 bln) order book, 200 bln-rupee bid pipeline to support 15%–20% rev growth over next 3–4 years

** Adds focus on high-margin segments like EP, O&M and industrial projects expected to lift margins

** YTD, VATE down 7.6%

($1 = 86.2620 Indian rupees)

 (Reporting by Yagnoseni Das in Bengaluru)

 ((Yagnoseni.Das@thomsonreuters.com;))